© Dukascopy Bank SA
Commerzbank (based on Bloomberg)
Pair's Outlook
EUR/JPY finally depreciates from the Bollinger band at 132.43, as it is a common pattern when after a substantial move the pair consolidates on Monday's trading session. Today the pair slightly decreases towards a 132.00 benchmark, but any signs of stronger bearish sentiments are not exhibited yet. Considering an opportunity to see the price slipping lower, the weekly pivot point will be met first at 131.18, then the 20-day SMA at 129.60.
Traders' Sentiment
SWFX marketplace sentiments are oriented for depreciation, since 65% of orders are short. Pending orders market is mildly bullish with 59% of buy orders.
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